Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Update
by Renee Jackson · The Cerbat GemHealthcare Triangle, Inc. (NASDAQ:HCTI – Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 259,294 shares, a growth of 152.7% from the March 15th total of 102,611 shares. Based on an average daily trading volume, of 850,748 shares, the short-interest ratio is currently 0.3 days. Approximately 35.4% of the company’s shares are sold short.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.
View Our Latest Stock Report on HCTI
Healthcare Triangle Stock Up 5.0%
Shares of NASDAQ HCTI traded up $0.12 during trading on Monday, reaching $2.52. The company had a trading volume of 172,079 shares, compared to its average volume of 707,905. The company’s fifty day moving average price is $5.02 and its 200-day moving average price is $74.33. Healthcare Triangle has a 12 month low of $2.24 and a 12 month high of $7,470.00. The stock has a market cap of $1.85 million, a P/E ratio of 0.00 and a beta of 1.15.
Healthcare Triangle announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 11th that allows the company to buyback $2,000.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 100,000,000% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Healthcare Triangle
Several institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Healthcare Triangle during the 2nd quarter valued at about $69,000. Jane Street Group LLC bought a new stake in shares of Healthcare Triangle during the 2nd quarter valued at about $33,000. Finally, Private Advisor Group LLC bought a new stake in shares of Healthcare Triangle during the 3rd quarter valued at about $26,000. Institutional investors own 0.33% of the company’s stock.
About Healthcare Triangle
Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.
Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.